"(Reuters) - U.S. cable group Liberty Global has won its 10-month pursuit of Ziggo with a deal that values the Dutch operator and its debt at 10 billion euros ($13.7 billion) and expands billionaire John Malone's vast European cable empire.

Ziggo rejected an initial offer from Liberty last October as too low, seven months after the U.S. group controlled by Malone first bought shares in its Dutch target.

On Monday, Ziggo accepted a cash-and-shares offer at 34.5 euros per share, a 22 percent premium to Ziggo's share price just before Liberty's initial bid."

So, with SIRI closing at $3.57 on January 3 - Liberty's initial offer date - a 22% increase would get us to $4.3554. This would be somewhat in line with analyst's lower-end estimates.